How the New York Knicks Could Make a Play for Giannis Antetokounmpo
Until it becomes evident that Giannis Antetokounmpo won't force his way out of Milwaukee, the NBA is on watch to see if the Bucks trade the two-time NBA Most Valuable Player.
The "Giannis watch" has been long-running. B/R recently tackled the Toronto Raptors as a possible option via a four-team, 14-player blockbuster.
On Friday, veteran Milwaukee-based reporter Gery Woelfl linked New York to Antetokounmpo, with the Knicks "preparing to make a tsunami-type offer," which may also be why they're looking at Jason Kidd to replace recently fired head coach Tom Thibodeau.
The Knicks finished their best postseason run since losing to the Indiana Pacers in 2000, but the franchise clearly isn't willing to accept the Eastern Conference Finals as the goal. After going (seemingly) all-in to acquire Jalen Brunson, OG Anunoby, Mikal Bridges and Karl-Anthony Towns in recent offseasons, is it even possible for New York to make a play for Antetokounmpo?
It's not easy, but the following two scenarios map out how the Knicks can get it done, with the theoretical assumption Antetokounmpo doesn't only demand a trade, but also specifically uses his leverage and relatively short contract (expiring after the 2026-27 season, with a player option to continue for another year) to force his way to New York.
Path No. 1: Pre-July Trade Details
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New York Knicks get:
- Giannis Antetokounmpo (from Bucks)
- Tyler Smith (from Bucks)
Milwaukee Bucks get:
- Karl-Anthony Towns (from Knicks)
- 2025 No. 36 pick (from the Brooklyn Nets)
Brooklyn Nets get:
- Pacôme Dadiet (from Knicks)
Notes: The trade is executed in June before the 2025-26 calendar year. The Bucks trigger a second-apron hard cap for the coming season by aggregating Antetokounmpo and Smith. The Nets trigger a first-apron hard cap by using a pre-existing trade exception (Keita Bates-Diop) to take in Dadiet.
Antetokounmpo waives his trade bonus to enable the trade to New York. The Knicks get a pair of negligible trade exceptions, under $650,000.
Path No. 2: July Trade Details
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Trade No. 1
Milwaukee Bucks get:
- John Konchar
- 2025 No. 48
Memphis Grizzlies get:
- 2025 No. 47
- $6 million trade exception (Konchar)
Trade No. 2
New York Knicks get:
- Giannis Antetokounmpo (from Bucks)
Milwaukee Bucks get:
- OG Anunoby (from Knicks)
- Brandon Clarke (from Grizzlies)
- Vince Williams Jr. (from Grizzlies)
- GG Jackson II (from Grizzlies)
- 2026 Washington Wizards protected first-round pick (from Knicks)
- 2026 first-round swap rights (from Knicks)
- 2028 protected first-round pick (from Grizzlies)
- 2030 first-round swap rights (from Knicks)
- 2032 protected first-round pick (from Grizzlies)
- 2032 first-round swap rights (top-five protected for the Knicks)
Grizzlies get:
- Mikal Bridges (from Knicks)
Notes: The Konchar deal is agreed to before the draft, but delayed until after the NBA's annual moratorium expires on July 6. After renegotiating and extending Jaren Jackson Jr. with cap room, Memphis would join the three-way deal with the Knicks and Bucks.
The Wizards' selection is top-nine protected, otherwise conveying as 2026 and 2027 second-rounders. The 2028 first-round pick from Memphis is lottery protected, but unprotected in 2029. If the Knicks' 2032 first-round pick is in the top five, the Bucks receive New York's 2032 second-rounder instead. Similarly, if the Grizzlies' 2032 first is in the top five, Milwaukee gets the Memphis 2032 second-rounder.
The Bucks trigger a first-apron hard cap at a projected $187.9 million by using the Khris Middleton pre-existing trade exception to take in Konchar.
Why Trade No. 1 Doesn't Feel Like a 'Tsunami'
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Because of the complex rules of the NBA's collective bargaining agreement, the Bucks and Knicks would find it nearly impossible to swap Towns and Antetokounmpo in July. Trade No. 1 illustrates the possibility before then, but it doesn't sound like Woelfl's "tsunami" offer.
The Bucks owe first-round swap rights to the New Orleans Pelicans, so tanking outright isn't entirely viable. With Damian Lillard unlikely to return from an Achilles injury this season, replacing Antetokounmpo with Towns gives Milwaukee a name (in another All-Star big). Still, the wise path forward for the franchise must start with replenishing depth and draft currency, while staying as competitive as reasonably possible.
The Knicks advanced to the Eastern Conference Finals with Towns and Brunson. Adding a third star like Antetokounmpo, among the most disruptive defenders in the league with his size, length and agility, would appeal more than giving up on Towns entirely.
Remember that Towns is a client of CAA Sports, an agency with strong ties to the Knicks. The franchise needed years to acquire him. Finally, they're not likely to dump him after their best postseason in decades.
The three-way trade assumes the Nets believe Dadiet will be a better player than anyone they might draft at No. 36, a necessary partner with the Bucks and Knicks facing strict apron limitations throughout the rest of the month.
Why the Milwaukee Bucks Do It
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Working on the assumption Antetokounmpo not only forces a trade but also scares off all other suitors (via his agent Alex Saratsis of Octagon Sports), the question becomes finding the best return.
The issue with taking on Bridges directly from the Knicks is that he's heading into the final year of his contract. He's unlikely to agree to a limited extend-and-trade, and Milwaukee can't be sure he signs a standard extension six months later.
Additionally, the Knicks don't have a ton of first-round picks. Here, the Bucks get young players, depth and picks from the Grizzlies instead of Bridges.
Anunoby would immediately stand out as the team's best player. Milwaukee would have a hard cap, but it wouldn't exceed the league's luxury-tax threshold ($187.9 million) regardless of Bobby Portis and Pat Connaughton's player options. The latter is a lock to opt in; Portis is harder to say, and he may want to finish his deal if he's elevated to starter, to build up his value for free agency in 2026 (when more teams will have spending power).
Williams and Jackson are intriguing prospects. Konchar is a steady reserve guard, and Clarke is a mobile energy big. If the Bucks want to steer further into the rebuild, Anunoby would bring back value in the trade market.
Why the Memphis Grizzlies Do It
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Since moving on from Dillon Brooks, Memphis has been trying to acquire a defensive-minded wing who can score. The Grizzlies finally land one of their top targets in Bridges.
Provided he communicates the willingness to extend after six months (likely with an unbinding and technically not legal promise behind the scenes), Memphis gives up draft compensation and a couple of young players to bolster its position in the West.
Beyond Bridges, the franchise has a few challenges heading into July. The expected goal is to get under the salary cap to negotiate and extend Jackson as close to the maximum as possible. He would get an immediate $11.8 million raise, then extend at 140 percent to $49.3 million starting in 2026-27. Assuming he adds four years (he may prefer three to get to his next contract sooner), Memphis falls about $7.8 million short($220.9 million instead of $228.6 million), though he does get the bonus salary this coming season.
Executing the Konchar move first allows Memphis to keep Santi Aldama's restricted rights. After Jackson's renegotiation, the Grizzlies can avoid the luxury tax with a full roster of 15 players, including the $8.8 million room mid-level exception on a free agent (possibly enough to retain Luke Kennard) and paying Aldama between $16-$19 million in the first season of a multi-year deal.
Why the New York Knicks Do It
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It's not complicated. New York reduces salary while adding Antetokounmpo to Brunson and Towns?
Anunoby and Bridges were vital to the recent run, but Antetokounmpo...does more need to be said?
New York would have the taxpayer mid-level exception ($5.7 million) to add another key rotation player. Would that be enough for a fifth starter, assuming Josh Hart is the fourth? The Knicks still have Mitchell Robinson, Miles McBride and can retain players such as Landry Shamet and Delon Wright on minimum deals.
Fleshing out the depth chart for cheap will be a challenge, but the top-end talent should make the Knicks difficult for anyone to handle in the playoffs.
Email Eric Pincus at eric.pincus@gmail.com and follow him on X @EricPincus and Bluesky.
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